There are a lot of ASX 300 shares to choose from on the Australian share market.
So many, it can be hard to decide which ones to buy over others.
But don't worry, because analysts at Morgans have been busy picking out some top stocks to buy since earnings season. Here are three to look at:
Accent Group Ltd (ASX: AX1)
Morgans remains very positive on this footwear retailer and sees it as an ASX 300 share to buy. Particularly for income investors, given its expectation that generous dividend yields are coming in FY 2025 and FY 2026. It said:
AX1 achieved positive growth in sales in FY24, despite the challenging retail environment and a poor wholesale performance. Earnings were down yoy due to sales growth tracking below the rate of cost inflation (as well as material non-recurring costs relating to Glue), but this was in line with the guidance given in July. An improving retail and wholesale sales trajectory, moderating cost inflation and the elimination of some of the losses in Glue, will combine to see earnings recover in FY25.
Morgans has an add rating and $2.40 price target on its shares. It also expects a 6.1% dividend yield in FY 2025 and then a 6.5% dividend yield in FY 2026.
Lovisa Holdings Ltd (ASX: LOV)
Another ASX 300 share that Morgans is positive on is fashion jewellery retailer Lovisa. The broker was impressed with its performance in FY 2024 and believes more of the same is coming in the future. It said:
There are not many global retailers achieving 17% sales growth and 21% EBIT growth in the current challenging consumer environment, but this is exactly what Lovisa did in FY24. A long period of stellar growth has trained investors to have very high expectations for the business and, while its comparable store sales growth should have been better in FY24, it has continued to deliver and will, in our opinion, continue to do so in the years ahead.
Morgans has an add rating and $36.50 price target on its shares.
Woodside Energy Group Ltd (ASX: WDS)
A third ASX 300 share that gets the seal of approval from Morgans is Woodside. The broker was very pleased with the energy giant's earnings and dividend during the first half and sees recent weakness as a buying opportunity for investors. It said:
A strong 1H24 earnings and dividend result comfortably beating Visible Alpha consensus estimates. WDS maintained an 80% dividend payout ratio, for a solid 1H24 interim dividend of US69 cents. Strong inbound interest from potential partners on Driftwood LNG has given WDS confidence it can assemble a strong partnership on the project.
Morgans has an add rating and $33.00 price target on Woodside's shares.
